Betfair extend fraud protection agreement

Betfair have agreed an extended anti-fraud deal with adaptive behavioural analytics experts Featurespace.

The firms’ existing partnership, which has provided the online betting exchange with real-time fraud detection services for the past five years, will be upgraded to include a new anti-fraud system - Featurespace’s Adaptive Real-Time Individual Change Identification (ARIC) engine.

The engine offers infinite horizontal scalability, meaning that fraud detection can continue to occur in real time even as Betfair’s customer base expands.

This means that events such as the Grand National can be handled without the need for manual review and rules-based systems.

The ARIC technology will allow Betfair to analyse millions of transactions every day, identifying unusual behavioural patterns and spotting customer fraud before it even happens.

Featurespace CEO Martina King said: “Fraud is becoming increasingly sophisticated; companies need a solution that keeps them ahead, identifies new types of fraud and reacts to it instantly - closing the door on vulnerabilities before they can be exploited. That’s exactly what we do for Betfair.”

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